Q2 FY24 constant currency revenue growth of -2% to +1% sequentially
Management expects Q2 revenue to decline 2% to grow 1% sequentially in constant currency, reflecting ongoing macro uncertainty.
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Q2 FY24 margins expected to be in similar range as recent quarters
Operating margins are expected to remain around 16% in Q2, similar to Q1, with no salary increases planned until Q3.
$1 billion investment in AI over three years
Wipro announced a $1B investment in AI, primarily organic, covering solutions, training, research, and M&A, funded through operational efficiencies.
Train all 250,000 employees in AI over next 12 months
Wipro plans to train its entire workforce in AI fundamentals and advanced topics, leveraging its DICE ID platform for credentialing.
Q2 FY25 Revenue Guidance: -1% to +1% QoQ CC
Management expects IT services revenue to change between -1% and +1% sequentially in constant currency for Q2 FY25.
Margins to remain in narrow band with upward bias
Management expects operating margins to sustain within a narrow band with an upward bias in coming quarters.
Q2 FY26 revenue guidance: -1% to +1% sequential CC
IT services revenue expected between $2.56B and $2.612B, reflecting cautious near-term outlook.
H2 FY26 performance expected to be better
Management expects stronger revenue growth in second half due to large deal ramp-ups and strong pipeline.
Capital allocation: minimum 70% net income payout over 3 years
Interim dividend of INR 5/share declared; endeavor to pay dividends twice a year (June and Q3 results).
Q3 FY24 revenue guidance: -3.5% to -1.5% QoQ in constant currency
IT services revenue expected between $2.617B and $2.672B, reflecting furloughs and weak discretionary spend.
Margins expected to remain range-bound
Despite wage hikes from December and softer revenue, management aims to keep margins within recent quarters' band.
Expect rebound in coming quarters after Q3
Management sees strong deal backlog and pipeline, expecting growth improvement as market stabilizes.
Q3 FY25 revenue guidance: -2% to 0% QoQ CC
Revenue expected to be $2.607B-$2.660B, impacted by seasonal furloughs and fewer working days.
Margins expected to stay in narrow band in Q3
Despite headwinds from furloughs and salary increases, management confident of maintaining margins within a narrow band.
Target operating margin band of 17%-17.5%
Q2 margin of 16.8% brings company closer to the aspirational band; revenue growth needed to sustain beyond 17%.
Q3 FY26 IT Services Revenue Guidance
Sequential constant currency revenue growth of -0.5% to +1.5%.
Adjusted Operating Margin Target
Management intends to maintain adjusted operating margin in a narrow band around 17.2%.
Harman Digital Transformation Solutions Acquisition
Expected to close during Q3; revenue from acquisition not included in guidance.
Q4 FY24 revenue growth guidance of 2%-4% CC
Management guided sequential constant currency revenue growth of 2%-4% for Q4 FY24.
Full-year FY24 revenue growth of 27%-28% YoY
Implied full-year growth of 27%-28% based on Q4 guidance.
Fresher hiring target of 30,000 for FY23
Planned to hire 30,000 freshers in FY23, up from 17,500 in FY22.
Attrition expected to moderate in Q4
Management expects attrition to stabilize and moderate in the next quarter.
Q4 FY25 Revenue Guidance: -1% to +1% QoQ in constant currency
Management expects IT services revenue to be between $2.602B and $2.655B in constant currency terms for Q4.
Operating Margin to Stay in Narrow Band Around 17.5%
CFO stated confidence in sustaining margins in a narrow band around the current level for Q4.
Capital Allocation Policy: 70%+ Payout Ratio from FY26
Board approved cumulative payout of 70% or more of net income over a three-year block starting FY26, via dividends and buybacks.
Campus Hiring of 10,000-12,000 per Quarter Next Fiscal
CEO indicated plans to hire 10,000-12,000 freshers each quarter in the next fiscal year, alongside lateral hiring.
Q4 FY26 IT Services Revenue Growth 0-2% CC
Sequential constant currency revenue growth guidance of 0% to 2%, including incremental two months of Harman DTS revenue.
Margins to Remain in Similar Band
Management aims to maintain operating margins in the same band as recent quarters despite Harman dilution.
Campus Hiring Ramp-Up to 2,500 in Q4
Plans to hire 2,500 freshers from campuses in Q4 FY26, up from 400 in Q3.
Q1 FY25 Revenue Guidance: -1.5% to +0.5% sequential constant currency
IT services revenue expected between $2.617B and $2.670B, implying a sequential decline of 1.5% to growth of 0.5% in constant currency.
Margins expected to remain range-bound
Management expects margins to stay within a narrow band similar to recent quarters, with no specific target provided.
Q1 FY26 Revenue Guidance: -3.5% to -1.5% sequential decline in CC
Management expects IT services revenue between $2.505B and $2.557B, reflecting a sequential decline of 1.5% to 3.5% in constant currency.
Margins to be maintained in a narrow band
CFO stated endeavor to maintain operating margins in a narrow band in coming quarters, despite revenue headwinds.
Fresher hiring to continue but cautiously
CHRO indicated plans to continue campus hiring but will monitor environment to avoid over-hiring, as seen in past.
Q1 FY27 Revenue Guidance: -2% to 0% sequential CC
IT services revenue expected between $2.597B and $2.651B, reflecting seasonal weakness and client-specific issues.
Medium-term margin band maintained
Management aims to keep operating margins in a narrow band despite wage hikes, deal ramp costs, and AI investments.
Buyback of ₹15,000 crore at ₹250/share
Largest buyback in Wipro's history, expected to complete in Q1 FY27, subject to shareholder approval.